Lusa - Business News - Portugal: State budget 2019 to allocate €400 million to projects in Africa

Johannesburg, Nov. 7 (Lusa) – Portugal’s government has decided that €400 million from its 2019 state budget is to be allocated to projects in four Portuguese-speaking countries in Africa, the country’s secretary of state for foreign affairs, Teresa Ribeiro, told Lusa during the signing of a multilateral investment initiative in Johannesburg on Wednesday.
The agreement was signed by the African Development Bank (AfDB), Portugal, and four Portuguese-speaking countries: Angola, Mozambique, Cape Verde and São Tomé and Princípe.
The initiative aims to carry out 65 projects in the private sector in these four African countries, as well as potential public-private partnerships valued at over $5 billion, Ribeiro said.
She said the initiative represented an “extraordinary opportunity" for the development of these countries.”
CYH/MWYP // ADB.
Lusa